Forex Engulfing – 3 bars count

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Viewing 4 posts - 1 through 4 (of 4 total)
  • #29202

    Hi All

    I was playing with Nicolas’s bar counting strategy when I cam across some good results for the EURUSD.

    Strategy:

    EURUSD
    1 Hour time frame
    Count 3 bars in a direction
    Trade in opposite direction
    Exit on engulfing candle in opposite direction.

    Its very simple but can definately be optimized to increase the amount of winning trades.
    I tried to check for 3 bars then a reversal signal like a engulfing signal or harami but got no trades.

    Any changes/improvements would be greatly appreciated.

    #29205

    Hi Stanton, thanks for sharing your new strategy.
    Seems interesting but I think you did not included the spread into your backtests. I get very different results and a loosing strategy, sorry mate. That’s why I moved your post from the library pending review list to a new forum topic instead.

    #29232

    Hi Nicolas

    I used a spread of 0.6 pips.

    I see with a spread of 2 its a loosing strategy.

    On IG is the spread not 0.6 pips

    Spot EUR/USD $1 0.6 0.95 1.5%
    #29241

    You should enlarge your spread at least to 1 pip because of slippage and execution speed, and see how it performs in backtests.

Viewing 4 posts - 1 through 4 (of 4 total)

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